Mimecast (NASDAQ:MIME) Rating Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Mimecast (NASDAQ:MIME) from a hold rating to a sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

A number of other research firms have also recently commented on MIME. Rosenblatt Securities started coverage on Mimecast in a research note on Wednesday, August 21st. They issued a buy rating and a $57.00 target price on the stock. Wedbush reduced their target price on Mimecast from $50.00 to $46.00 and set a neutral rating on the stock in a research note on Tuesday, August 6th. Berenberg Bank started coverage on Mimecast in a research note on Friday, May 31st. They issued a buy rating and a $59.00 target price on the stock. Robert W. Baird set a $58.00 target price on Mimecast and gave the company a buy rating in a research note on Sunday, September 15th. Finally, Cowen started coverage on Mimecast in a research note on Thursday, May 23rd. They issued an outperform rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $55.67.

MIME opened at $38.11 on Tuesday. The stock has a market cap of $2.43 billion, a PE ratio of -544.43, a P/E/G ratio of 38.32 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.49. Mimecast has a 52 week low of $29.67 and a 52 week high of $54.57. The business’s fifty day simple moving average is $42.24 and its 200 day simple moving average is $46.16.



Mimecast (NASDAQ:MIME) last released its earnings results on Monday, August 5th. The technology company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.11. The business had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $97.32 million. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 earnings per share. As a group, equities analysts anticipate that Mimecast will post 0.05 earnings per share for the current year.

In other news, CEO Peter Bauer sold 18,750 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $45.64, for a total transaction of $855,750.00. Following the completion of the sale, the chief executive officer now directly owns 12,253 shares in the company, valued at $559,226.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Neil Murray sold 35,000 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $48.91, for a total transaction of $1,711,850.00. Following the sale, the director now owns 1,986,665 shares of the company’s stock, valued at $97,167,785.15. The disclosure for this sale can be found here. Insiders have sold 398,882 shares of company stock worth $17,482,208 over the last ninety days. Insiders own 11.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Mimecast during the second quarter worth about $32,000. First Mercantile Trust Co. boosted its holdings in shares of Mimecast by 223.4% during the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock worth $49,000 after purchasing an additional 715 shares during the period. Marshall Wace LLP purchased a new stake in shares of Mimecast during the first quarter worth about $49,000. Advisor Group Inc. boosted its holdings in shares of Mimecast by 39.1% during the second quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock worth $64,000 after purchasing an additional 379 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Mimecast during the second quarter worth about $79,000. Institutional investors own 71.53% of the company’s stock.

About Mimecast

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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Analyst Recommendations for Mimecast (NASDAQ:MIME)

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